Saturday, April 19, 2025
Halloween Storm Causes Over $250 Million in Insured Damage
The Halloween storm that hit Eastern Canada between October 30 and November 1, 2019 caused over $250 million in insured damage, according to Catastrophe Indices…
insurance
Intact Invests $1 Million to Help Protect Canadians From Natural Disasters
The Intact Financial Corporation is investing $1 million in charities that are developing practical and effective solutions that help protect people from natural disasters like floods, wildfires,…
IBC Releases Report on Managing Flood Costs of High Risk Properties
The Insurance Bureau of Canada (IBC) has released a paper that provides Options for Managing the Flood Costs of Canada’s Highest Risk Residential Properties. In…
Winter Storm Causes Over $124 Million in Insured Damage Across Eastern Canada
The winter storm that hit Ontario, Quebec, New Brunswick, and Nova Scotia in March 2019 caused over $124 million in insured damage, according to Catastrophe…
Communities Come Together to Tackle Urban Flooding
It doesn’t take much convincing to believe that flooding is a big problem in Canadian communities. The insurance industry has been sounding the alarm for…
August Flood in Toronto Costs $80M in Insured Damage
On August 8th, a thunderstorm produced 72 millimeters of rain over Toronto, with 51 millimeters falling in just one hour. The Insurance Bureau of Canada…
Toronto Partners with IBC and Intact Centre for Flood Resilience Program
Insurance Bureau of Canada (IBC) has joined the Intact Centre on Climate Adaptation at the University of Waterloo and the City of Toronto to launch a pilot Toronto Home…
Hurricanes: Stronger, Slower, Wetter in the Future?
Scientists have developed a detailed analysis of how 22 recent hurricanes would be different if they formed under the conditions predicted for the late 21st…
Storm Surge Insurance Now Available to N.S. & B.C. Residents
Guelph, Ontario-based insurance and investment co-operative, The Co-operators, has announced the addition of storm surge coverage to its Comprehensive Water product. Waves caused by storms…
New Online Tool to Build Consumer Knowledge of Flood Coverage
Following on last week’s announcement from the Insurance Bureau of Canada (IBC) regarding Atlantic Canada flooding, the IBC has released an online tool to increase…
Minto, Ont. Receives Report, Recommendations After June Flooding
The Town of Minto, Ontario, population 8,300, experienced a significant rainfall event during the early morning hours of June 23, 2017. The rainfall resulted in…
Report: More Enforcement Needed to Lower Residential Flood Risk
The Institute for Catastrophic Loss Reduction reports that better coordination and enforcement of municipal efforts to curb private lot flood risk is needed. The report,…
Insurance Bureau of Canada Statement on Que. Floods
The Insurance Bureau of Canada has released a statement on flooding and insurance coverage in the province of Quebec. The statement is in response to…
Canada Needs a National Strategy to Address Flood Risk
When Water Canada published a story on the top seven water stories for 2016, the authors highlighted the federal government’s commitment to new funds for…
BC Announces Disaster Financial Assistance for Recent Floods
British Columbia has announced that Disaster Financial Assistance (DFA) is now available to eligible British Columbians in the central region who may have been impacted…
Markham: Insurance Board Should Consider City Flood Control
The City of Markham, Ontario, has urged the insurance industry to consider city flood control measures when setting home insurance rates. Over the past three…
Investment in Ontario Flood & Leak Sensor Tech Company
Alert Labs Inc., designer of the Flowie water sensor and Floodie companion sensor, which help to protect homes from flood damage and to provide minute-by-minute…
Canada Releases New Floodplain Mapping Framework
In Canada, overland flooding costs the Canadian economy more than any other kind of natural hazard. It is the single largest draw on the Disaster…
Homeowners Unprepared for Flooding, Unaware of Insurance Changes
A report from the CBC has brought to a light a poll conducted on behalf of Public Safety Canada in summer 2016, which found that…
Severe Weather Events Cost Canadians $5 Billion in 2016
From the wildfires that swept through Fort McMurray in May to the floods that devastated parts of Nova Scotia and Newfoundland over Thanksgiving weekend, severe…
Canadian Provinces and Territories are Ill-Prepared for Flooding due to Climate Change
A new report from the Intact Centre on Climate Adaptation out of the University of Waterloo finds all 10 provinces and Yukon are ill-prepared for flooding as…
Reinsurance Against Flood
The agreement will allow the NFIP to share flood risk with private reinsurance companies to help defray the cost of claims from large and unexpected insured events, such as large hurricanes, ultimately strengthening the NFIP’s solvency and lessening the burden on taxpayers, according to background information from Munich Re.
Insurance Co. Partners to Build More Flood-Resilient Communities
At a multi-stakeholder roundtable discussion, it was agreed that to improve our flood resiliency, Canadians needed the following conditions to be in place: Canadians understand the risk that overland and urban flood presents to their homes, business and communities
Extreme Weather Identified as a Key Risk in the Emergency Management Framework for Agriculture
The federal, provincial and territorial governments have developed a resource, the Emergency Management Framework for Agriculture, to improve Canada’s ability to address risks and emergencies, from prevention…